SoFi Technologies Inc (NASDAQ:SOFI), a company specializing in personal finance with products that include student and personal loans, mortgage refinancing, and wealth management services, has reported an insider sale according to a recent SEC filing. Chief Technology Officer Jeremy Rishel sold 56,273 shares of the company on March 19, 2024.The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Following the sale, the insider now directly owns shares in the company. The shares were sold at an average price of $6.93, with a total value of the transaction amounting to several hundred thousand dollars.Over the past year, the insider has sold a total of 366,078 shares of SoFi Technologies Inc and has not made any purchases of the stock. The recent sale represents a continuation of the insider’s selling pattern over the period.
The insider transaction history for SoFi Technologies Inc shows a trend of more insider sales than buys over the past year. There have been 10 insider sells and 7 insider buys during this timeframe.Shares of SoFi Technologies Inc were trading at $6.93 on the day of the sale, giving the company a market capitalization of $7.267 billion.
The stock’s price-to-GF-Value ratio stands at 0.85, indicating that SoFi Technologies Inc is Fairly Valued based on its GF Value of $8.18. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which takes into account historical trading multiples, a GuruFocus adjustment factor based on the company’s past performance, and future business performance estimates from Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
